Jio Financial Services and BlackRock form 50:50 joint venture for wealth management and broking in India.
India's Jio Financial Services and BlackRock have formed a 50:50 joint venture to establish a wealth management and broking business in India. The partnership aims to capitalize on India's growing wealth business and increasing number of retail investors, amidst the country's stock indices reaching near-record highs. This follows their asset management venture launched last year. Shares of JFS had fallen 4.8% on April 15th before the announcement of the JV.
April 15, 2024
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